Why the Rental Market Is Busier Over The Summer?
As a knowledgeable city centre letting agent, we are asked a substantial amount of questions about the trends in the rental industry. A question we are repeatedly asked year upon year is, “Why is the rental market increasingly busy over the summer period?”. Well, we have several answers for you all…
Firstly, yes, the summer is by far our most busiest season. Our apartment viewings can often double,enquiries come flooding in hourly and our team are rushed off their feet from May to October. But why I hear you ask, what makes the summer a perfect time to move? Why does almost EVERYONE move at this time of year?
After conducting an internal survey amongst our team, results have shown there are multiple reasons to why people choose to move at this time. The first reason being students. Whether starting a course at a university in the city or starting a graduate scheme, we have a surge of students pour through our doors searching for their city centre pads.
Graduate schemes more often than not start in September. Graduates tend to take a 12 month contracts initially, then within a few years they get promoted at work, so they upgrade into a nicer property, generally also in September.
The university courses also start in September, a lot of the international students arrive in August so they can settle in and find their way around before their course starts.
Also in early autumn after the kids have gone back to school, Director promotions tend to be issued. Following this, people want to relocate or upgrade.
Another reason for the increase in demand is it’s the school holidays in July, August and September, many industries tend to be quieter, so anyone who doesn’t go on holiday at this point will use the time to hunt for a property. Teachers especially will look to move just before their new term commences. Doctors will also be on rotation around this time, which all adds to the pot.
After all this talking about how busy we are, best get back to moving people in!